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TScan Therapeutics, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing collaboration and license revenue of $1,049,000, a decrease from $3,887,000 in the same quarter the previous year. The decrease is attributed to the timing of research activities with Amgen (AMGN-0.32%).
Research and development expenses increased to $26,262,000 from $22,741,000, primarily due to higher clinical studies expenses and additional headcount.
General and administrative expenses rose to $7,409,000 from $5,894,000, driven by increased personnel expenses.
The company reported a net loss of $29,887,000 for the quarter, compared to $22,997,000 in the previous year.
Cash used in operating activities was $83,410,000 for the nine months ended September 30, 2024, compared to $37,592,000 in the previous year.
TScan had cash, cash equivalents, and marketable securities of $271,120,000 as of September 30, 2024.
The company continues to focus on developing its TCR-T therapy candidates for cancer treatment, with ongoing clinical trials and collaborations.
TScan anticipates that its existing cash, cash equivalents, and marketable securities will fund operations into the fourth quarter of 2026.
The filing also outlines various risks related to the company's business, including competition, regulatory challenges, and the need for additional funding.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TScan Therapeutics Inc. quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.